Singapore: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in Singapore

In 2022, the Singaporean glass in the mass market decreased by -26.1% to $X, falling for the second consecutive year after six years of growth. In general, consumption, however, recorded a resilient increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Glass in The Mass in Singapore

In value terms, glass in the mass production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 32% against the previous year. Over the period under review, glass in mass production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Glass in The Mass

Exports from Singapore

In 2022, shipments abroad of glass in the mass increased by 24% to X tons, rising for the second consecutive year after seven years of decline. In general, exports, however, recorded a perceptible downturn. Over the period under review, the glass in mass exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass in the mass exports soared to $X in 2022. Overall, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.9% against 2020 indices. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Hong Kong SAR (X tons) were the main destinations of glass in the mass exports from Singapore, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +152.5%), while the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), Malaysia ($X) and Hong Kong SAR ($X) were the largest markets for glass in the mass exported from Singapore worldwide, with a combined 93% share of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +141.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average glass in the mass export price amounted to $X per ton, jumping by 27% against the previous year. Over the last decade, it increased at an average annual rate of +5.2%. The growth pace was the most rapid in 2013 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass in The Mass

Imports into Singapore

In 2022, supplies from abroad of glass in the mass increased by 204% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 365%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass in the mass imports soared to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2018 when imports increased by 133%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of glass in the mass to Singapore, accounting for a 75% share of total imports. Moreover, glass in the mass imports from the United States exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (0.0% per year) and China (-27.1% per year).

In value terms, the United States ($X) constituted the largest supplier of glass in the mass to Singapore, comprising 95% of total imports. The second position in the ranking was taken by China ($X), with a 2.5% share of total imports. It was followed by Japan, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +43.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-22.2% per year) and Japan (-1.5% per year).

Import Prices by Country

The average glass in the mass import price stood at $X per ton in 2022, which is down by -27.7% against the previous year. Overall, the import price, however, saw buoyant growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 652%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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